Links to related Web Sites are listed at the bottom of this page.
| AREAS |
EMPLOYERS |
STRATEGIES |
|
ORPORATE AND PUBLIC FINANCE
Financial Analysis
Cash Management
Credit Management
Budget Analysis
Investment Management
Investor Relations
Financial Reporting
Payroll
Benefits
Real Estate
Risk Management
|
- Private businesses of all sizes and types
- State and local government entities
Federal agencies including:
- Internal Revenue Service
- Treasury Department
- Schools and universities
- Non-profit organizations
- Foundations
- Hospitals
|
Complete a related internship.
Develop strong computer skills, including spreadsheets, databases, and presentation software.
Sharp analytical skills are crucial in this industry.
Earn an MBA to reach the highest levels of corporate
finance. |
| |
BANKING
Corporate Credit Analysis
Commercial Lending
Trust Management
Capital Services and Mergers & Acquisitions
Mortgage Loans
Originations and Packaging
Branch Management
Operations
Cash Management
Credit Scoring and Risk Management
Private Banking
|
- Commercial banks
- Credit unions
- Savings and loan associations
- Savings banks
- Mortgage banks
- Captive finance companies
Regulatory agencies including:
- Federal Reserve, FDIC, OCC, OTS
|
Develop a solid background in business including
marketing and accounting.
Get experience through part-time, summer or internship positions in a financial service firm.
Develop strong interpersonal and communication skills
in order to work well with a diverse clientele. |
| |
INSURANCE
Claims Analysis
Underwriting
Risk Management
Sales
Actuarial Science
Loss Control
|
- Life insurance firms
- Property and casualty insurance firms
- Commercial banks
- Savings banks
|
Complete an internship with an insurance agency.
Talk to professionals in the industry to learn more
about claims, underwriting, and risk management.
Many good, entry-level positions exist in these
areas.
Initiative and sales ability are necessary to be a
successful agent or broker.
Develop strong communication skills, as many positions require interaction with others and the ability to explain information clearly and concisely.
Take additional statistics classes to prepare for a
career in actuary science. Prepare to take the first
in a series of actuarial examinations. |
| |
PERSONAL FINANCIAL PLANNING
Sales
Customer Service
Operations
Portfolio Management
|
- Brokerage firms
- Trust companies
- Financial partnerships
- Multi-line insurance firms
- Sole practitioners
|
Gain experience in sales.
Must be highly motivated and entrepreneurial.
Research how one obtains the Certified Financial
Planner (CFP) designation.
Develop a solid personal network. |
| |
REAL ESTATE
Residential Brokerage
Commercial Sales
Appraisals
Property Management
Real Estate Portfolio Management
|
- Real estate brokers
- Commercial banks
- Appraisal firms
- Apartment and condominium complexes
- Developers
- Real estate investment trusts
- Mutual funds
|
Obtain sales experience through part-time, summer
or internship positions.
Research how to become a real estate broker through the National Association of Realtors.
Develop an entrepreneurial spirit.
Research apprenticeships in appraisal. |
| |
INVESTMENT BANKING
Corporate Financial Analysis
Mergers and Acquisitions
Equity and Debt
Underwriting
Institutional Bond and Equity Sales
Retail Bond and Equity Sales
Business Valuation
Business Sale Transactions
Currency Trading
Derivatives, e.g. options
Trading
Venture Capital Fund Management
New Venture Analysis
|
Investment banking firms
- (Changes in laws have created a fluid situation in this industry; Mergers and acquisitions continue to take place.)
Insurance firms
- (The Gramm Leach Bliley Act of 1999 allowed financial services firms to acquire or build investment banking subsidiaries and vice versa.)
|
An M.B.A. is required to move beyond the entry-level analyst position in investment banking. Investment banking is highly competitive.
Be prepared to work many hours of overtime per
week, start at the bottom, and pay your dues.
Develop strong analytical and communication skills.
Cultivate personal ambitiousness.
Obtain a Series 7 License for both institutional and
retail broker sales positions.
Work toward the CFA designation. |
| |
MONEY MANAGEMENT
Research
Trading
Marketing
Portfolio Management
|
- Portfolio management firms
- Commercial banks
- Investment banks
- Federal Reserve banks
- Insurance firms
|
Most positions require an advanced degree in
economics, finance or business and many years
of financial experience. |
| |
GENERAL INFORMATION
· Quantitative skills are extremely important. Take additional courses in math, statistics, and accounting.
· Many positions in finance require the ability to analyze and interpret data.
· Develop strong interpersonal and communication skills. Cultivate an eye for detail.
· Gain experience through internships, summer and part-time positions.
· Read the Wall Street Journal and other financial news magazines to stay abreast of current events and to learn more about the industry.
· Join student professional associations in the field of finance.
· Several professional designations and licenses, e.g. Chartered Financial Analyst or Certified Financial Planner, are available to finance professionals working
in a particular area. Earning these designations may help one obtain advanced positions. |
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